Power Generation Companies (GenCos), have appealed to the Federal Government and key stakeholders to settle electricity debts owned them for electricity generation to enable them remain in business.

Fidelity Bank Plc benefited from a fresh rally on the Nigerian Exchange, led the gainers chart over a five day rally. The bank’s share price rose sharply, up by 23% week on week as value hunters and shareholders queued behind the financial services stock.

The naira continued to underperform bullish expectations of major investment firms, including Goldman Sachs, Financial Derivate Companies, Renaissance, and others, amidst claim by the apex bank that the local currency is undervalued.

The foreign currency scarcity problem caused the Central Bank of Nigeria (CBN) to intervene in the forex market five times in response to negative exchange rate movements. Overall, the apex bank injected $33 million to boost FX liquidity in the market.

Banks earnings rose sharply in 2023 as Nigerian lenders earned higher interest income from loan book repricing.  In the latest earnings release by banking sector dominating lenders, their individual report showed interest income skyrocketed using effective pricing method.

PenCom Recovers N2.19bn from 31 Defaulting Employers in Q1 National Pension Commission, PenCom, said in a report that it recovered…

The Central Bank of Nigeria (CBN) announced on Friday its plan to re-issue N1.56 trillion in treasury bills during the third quarter of 2024, matching the amount set to mature between June and August this year.

The Abuja Electricity Distribution Company (AEDC) has said it will disconnect all customers with outstanding electricity bills by Monday, June 3. The AEDC management disclosed this in a notice titled: “Notice of power disconnection for customers with outstanding bills”.

Federal Government (FG) is targeting higher contribution from solid minerals as part of its plan to grow the economy to $10 trillion, driven by ongoing reforms.

The Minister of State, Federal Ministry of Agriculture and Food Security, Sen. Aliyu Abdullahi says Nigerians consumed estimated 1.6 billion litres of milk and